back Back

Amazon and YouLend launch flexible financing program for UK SMBs

By Gloria Methri

June 20, 2023

  • Amazon
  • Amazon Lending
  • B2B Payments
Share

YouLend, Embedded Finance, E-Commerce Payments, FinTech, UK, Amazon, Amazon Lending, SME LendingAmazon has launched a flexible financing program that provides businesses with access to funding linked to their sales, allowing them to repay as they earn.

Delivered in collaboration with YouLend, the merchant cash advance, will provide a new flexible financing option for eligible UK-based businesses selling on Amazon. The program offers greater cash flow flexibility in addition to the fixed-term business loans already offered by Amazon Lending.

The new financing option from YouLend has already provided over 100,000 fast, flexible financing solutions to small and medium businesses. Businesses can apply for funding from £500 up to £2 million, depending on affordability through their existing business accounts. Once accepted, sellers pay a single fixed fee with repayments tied to a percentage of their future sales on Amazon. Repayment is only required when sellers make sales, protecting them during quieter periods.

More than 100,000 UK small and medium enterprises (SMEs) and brands sell on the e-commerce platform. Through Amazon Lending, businesses now have a greater variety of financing solutions to suit their needs, whether they require greater flexibility or a fixed-term working capital loan.

Samarth Gogia, GM B2B Payments & Lending said, “We have heard from Amazon sellers in the UK how much they value fast, flexible, and accessible funding, which is why we are excited to announce a merchant cash advance that expands our range of funding options for sellers. In collaboration with YouLend, this new option will allow sellers to increase their cash flow with confidence, allowing them to make repayments based on how their business is performing.”

Jakob Pethick, Chief Commercial Officer of YouLend said, “Supporting businesses is core to our mission. That is why we are pleased to partner with Amazon to support the growth of their sellers by providing fast, flexible, and affordable financing. Amazon sellers will now be able to access revenue-based financing from YouLend to thrive and grow.”

Businesses require a minimum of three months’ trading history on Amazon before they are eligible to apply. Amazon acts as a broker presenting merchant cash advance offers to sellers via Seller Central, where sellers can check their eligibility and offers. This information is submitted to YouLend for verification and approval.

Previous Article

June 20, 2023

EazyPay enters strategic agreement with JCB

Read More
Next Article

June 20, 2023

ThetaRay and Millennium EBS to provide compliance solutions for financial institutions

Read More






IBSi Daily News Analysis

June 21, 2024

Amazon

Industry experts react after India FIU fines Binance $2.2m, signaling tougher digital asset regulations

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

June 21, 2024

Niyogin Fintech appoints Sanket Shendure as the Chief Product & Growth Officer

Read More

June 21, 2024

FinTech Focus: Catch latest developments of the week

Read More

June 21, 2024

Curlec & Seedflex strengthen businesses in Malaysia with PAYS Advance

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023